Whole Life Insurance
Whole life insurance plans provide coverage for the life of the insured. Features of whole life insurance include fixed premiums, guaranteed death benefits and cash values that grow tax deferred. For that reason, a whole life insurance policy can be described as providing life insurance protection with a savings feature. A participating whole life policy pays dividends. The dividends represent a return of profits to the policy holder derived from excess investment earnings, favorable mortality and expense savings. Dividends may be used in many ways, including to reduce premiums or increase policy cash value and death benefits. Dividends are not guaranteed to be paid to you. At Michigan Term, we can find a Whole Life Insurance plan that works best for you.